TechnOrion is moving to Cyprus, due to the unpredictable business environment that prevailed in Lebanon.
In the early months of 2020, André Zein decided to move his digital banking company TechnOrion from Metn, Lebanon, where the business environment was becoming unpredictable.
“I looked at three countries: Armenia, Malta and Cyprus. “Cyprus won easily,” Zane told the Cyprus Mail in an interview.
With the help of InvestCyprus, Zein made all the arrangements to move his company, to register it in Cyprus, to find offices in Limassol and, from January 2021, he will be on the island full time.
“Easy access was one of the reasons we chose to move to Cyprus. with the help of InvestCyprus, and the transition was simple, “Zein explained.
The distance to Lebanon was an important factor for Zein, along with the availability of several flights available to the region and around the Middle East.
“But Cyprus also offered an environment that was great for technology and innovation companies,” Zein continued.
“The cost of living and doing business is low, but the infrastructure required for our business was within normal limits and at a reasonable cost.” Armenia, for example, had lower costs but did not have the infrastructure or business services Zein needed.
“Undoubtedly, another feature of Cyprus that made a big difference was that there were many resources for our relocation. “For a business to start and operate in a new location must be simple,” he insisted.
“Knowing that everything we have to do in English was a very important advantage,” he added. “It solves a lot of communication problems very quickly.”
Another advantage was the national health care system. “The GESS meant that we could have access to health care without delay.”
“And, low taxes made it easier for us to operate, along with well-organized corporate registration and accounting services.”
Zein has two types of business. TechnOrion offers a digital banking platform that allows financial institutions to implement a fast-paced digital transformation. “True digital banking serves both the bank’s customers and enables bank employees to provide better customer service. We provide the tools and services required by modern easy-to-use banks to improve the service and supply of their customers. The customer first “, said Zein.
Without waiting for the end of the pandemic crisis, Zein expects to start in January, promoting his platforms in both Cyprus and Europe.
“Access to other markets is easy from Cyprus,” Zein commented. “We can work with banks and companies around the world.”